Continuum Advisory LLC increased its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 18.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,680 shares of the coffee company’s stock after buying an additional 1,364 shares during the quarter. Continuum Advisory LLC’s holdings in Starbucks were worth $861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new stake in Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $103.77.
Starbucks Stock Performance
SBUX opened at $99.31 on Tuesday. The company’s 50-day simple moving average is $98.12 and its two-hundred day simple moving average is $89.05. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The stock has a market capitalization of $112.60 billion, a P/E ratio of 30.00, a P/E/G ratio of 2.94 and a beta of 0.97.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts forecast that Starbucks Co. will post 3.11 EPS for the current fiscal year.
Insider Buying and Selling at Starbucks
In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is currently owned by corporate insiders.
Starbucks Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Read More
- Five stocks we like better than Starbucks
- High Flyers: 3 Natural Gas Stocks for March 2022
- How to Master Trading Discipline: Overcome Emotional Challenges
- How to Invest in Biotech Stocks
- Does China Investigation Change NVIDIA’s Outlook; Yes, No, Maybe?
- Most active stocks: Dollar volume vs share volume
- Is Marvell Technology Chipping Away at NVIDIA’s Market Lead?
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Free Report).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.